Investor Presentaiton

REBASE YEAR | HIGHLIGHTS MACRO DEVELOPMENTS ■ The Georgian economy continued to deliver strong real growth numbers, estimated at 5.2% in 2019 ■ The country's current account deficit reduced significantly to estimated 4.1% of GDP in 2019, down from the 2016 highs of 12.4%, reflecting healthy growth in exports and lower imports; trends that we expect to see continued While the impact of fewer Russian tourists on the economy has been small, the negative expectations have partly resulted in the 6.0% depreciation of the GEL vs US Dollar exchange rate since 20 June 2019, before strengthening in December and early 2020. This did however have an impact on headline inflation, which increased to 7.0% in December 2019 ■To curb this inflation, the National Bank of Georgia increased the monetary policy rate from 6.5% to 9.0% in the second half of 2019 ■ On 11 October 2019, S&P Global Ratings upgraded the Georgia's sovereign credit rating by one notch to BB, a testament to the positive changes as a result of the Government's recent reforms ■ With a ranking of 7th, Georgia remains in the top 10 of best places in the world to do business in 2020 according to the World Bank's ranking ■ Exports are showing healthy growth, while imports are shrinking, resulting in the expected current account deficit falling below 5% of GDP, down from the 2016 highs GROUP DEVELOPMENTS ■ A new base year - a new environment with a successfully reshuffled portfolio, lower NIM and lower cost of credit risk on the back of new regulations, leading to lower systemic risk, resulting in growing operating income and a strong profitability ■ Our new mission established: we are here to help people achieve more of their potential. A new brand platform adopted and first new brand campaign launched. Bank of Georgia is the brand that stands for taking action and doing something about it; we are here to empower and support our customers and employees. The Bank clearly comes out "top of mind" and is regarded as the most trusted financial institution through all age groups of Georgian population ■ New CSR strategy aligned with new mission - to help people achieve more of their potential. Focusing on three main pillars: education, employment and MSME development ■ Two main strategic pillars: customer satisfaction and employee engagement. The KPIs of the top management revised to include NPS/ ENPS scores. Investment made in the leading customer experience management platform, Medallia, to help us capture and prioritise large amounts of customer feedback. Already rolled out throughout the Bank's digital channels and planed to be expanded to the call center and branches in 2020 ■ Investments in digital capabilities - doubling digital staff over a 12 month period (announced in June 2019). Results already evident - a significantly higher number of mobile banking transactions of individual customers (35.9 million in 2019, up 129.2% y-o-y). Overall, more than 93% of daily transactions now performed through digital channels BANK OF GEORGIA 6

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